MarketWatchers LIVE

12/21 MarketWatchers LIVE Recap - Anatomy of a Trade - Book of the Month



Welcome to the recap of Thursday's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Listen and watch a show devoted to technical analysis of the stock market with live market updates and symbols that are hot. You'll find the latest episode here.

Information abounds in our Monday through Friday 12:00p - 1:30p shows, but the MWL Blog will give you a quick recap. Be sure and check out the MarketWatchers LIVE ChartList for many of today's charts. 

Your comments, questions and suggestions are welcome. Our Twitter handle is @MktWatchersLIVE, email is and our Facebook page is up and running so "like" it at MarketWatchers LIVE. You'll also find archives of our shows on our Facebook page and YouTube channel. Don't forget to sign up for notifications at the end of this blog entry by filling in your email address. 


Friday (12/22) - "Year in Review" with Tom and Erin

12/26 - 12/29 - No LIVE show. "Best of MarketWatchers LIVE". Schedule is below:

Tuesday (1/2) - MarketWatchers LIVE Returns!


What Happened Today?

Chart Breakouts (00:18:19): Erin and Tom took a look at recent chart breakouts. Erin modified the "New 52-Week Highs" pre-defined scan to look for those stocks with a 50-EMA greater than the 200-EMA and PMO that was below it's signal line, in order to weed out the chaff given the scan originally returned over 400 stocks. Tom concentrated on the Energy sector.


Anatomy of a Trade (00:38:14): Tom took us through quite a few of his recent trades, while Erin concentrated on an intermediate-term trade she would've traded to show how to set stops and targets.

Ten in Ten Before One: In this regular segment, Tom attempts to review ten charts in ten minutes. Send in your symbol requests via Twitter (@mktwatcherslive) before the show or using the live chat box during the LIVE program and we'll try and add them. We'll also check our email for symbol requests before the show ( You'll find all of the charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.

Book of the Month: Today Erin spotlighted one of her favorite TA books. Both Tom and Erin put John Murphy's "Technical Analysis of the Financial Markets" and Martin Pring's "Technical Analysis Explained" books on the top of their list, but Erin talked about Alexander Elder's book "Come Into My Trading Room" and the associated Study Guide. She really appreciates his perspective on behavioral trading and psychology behind trading. As a doctor of psychology, he gives us insight on how emotions affect trades and how to avoid the mistakes. He also discusses position sizing and how he uses his indicators. Having an accompanying study guide also makes learning easy! Give yourself a Christmas present you'll really enjoy!

Mailbag Segment: After discussing the book of the month, Erin noted that if you become a Certified ChartWatcher, you will receive a 50% discount on all future purchases in the StockCharts Store! To find out more click here.


Looking Forward:

Tune in on Friday at 12:00p - 1:30p EST on 12/22 for a review of sentiment polls and numbers and a special "Year in Review" with Tom and Erin!

Helpful MarketWatchers LIVE Links:

Facebook - MarketWatchers LIVE Page

YouTube Channel for StockCharts

Erin's PMO Scan

Tom's Trading Places Blog

DecisionPoint Blog


PMO -Price Momentum Oscillator

RSI - Relative Strength Index

OBV - On Balance Volume



Erin Swenlin
About the author: helped create and manage the website alongside her father, Carl Swenlin. Together, Erin and Carl launched the DecisionPoint daily blog in 2009. She hosts the MarketWatchers LIVE web show at, and is also a Member of the CMT Association. Learn More
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